Kering, the owner of Gucci, Saint Laurent, Alexander McQueen and more, announced Wednesday it is shedding its Sergio Rossi label. The luxury brand group is selling 100 percent of its Sergio Rossi business to European investment firm Investindustrial for an undisclosed amount.
The transaction includes all the industrial assets of Sergio Rossi, the rights attached to the brand and the entire distribution network. The deal is expected to close in the coming weeks.
Sergio Rossi has a significant international presence in Europe, North America, South East Asia and Japan with over 80 doors, including directly operated stores and franchised stores. Through the agreement, Investindustrial aims to allow the brand to continue its path for long-term growth.
Investindustrial is one of Europe’s best-known industrial groups, which provides solutions and capital to mid-sized companies, in order to accelerate their international expansion and improve their operational efficiency. Aston Martin, B&B Italia and Flos are among the companies currently managed by Investindustrial.